Current Rates
Current Rates at State Savings Bank
Meeting Your Investment Needs
If you are looking for great interest rates in the Des Moines and Baxter metro, trust State Savings Bank to provide them. Our accounts offer valuable benefits, including access to online and mobile banking.
We also offer first-time homebuyer loans, commercial loans, mortgages, and deposit accounts for both checking and savings. Compare our current rates and find an annual percentage yield (APY) that suits your investment goals.
Checking Accounts
| Account | Minimum Amount to Open Account | Daily Balance to Obtain APY* | Interest Rate | APY* |
|---|---|---|---|---|
| Now Checking | $700.00 | Under $2,500.00 | .90% | .90% |
| $2,500.00 & over | 1.00% | 1.00% | ||
| SSB Select Checking | $5,000 | Under $5,000.00 |
1.85% |
1.87% |
| $5,000.00 - $14,999.99 | 1.95% | 1.97% | ||
| $15,000.00 - $49,999.99 | 2.05% | 2.07% | ||
| $50,000.00 - $89,999.99 | 2.15% | 2.17% | ||
| $90,000.00 & over | 2.30% | 2.32% | ||
| Rewards Checking** | No minimum to open an account | Up to $20,000.00 | 4.00%** | 4.07%** |
| Over $20,000.00 | 1.85%** | Range from 4.07% to 1.87%** |
Rates Effective as of December 13, 2025
Rates are subject to change. APY stands for Annual Percentage Yield. APY assumes interest is compounded and rates remain the same for one year. For all checking accounts, interest is compounded and credited monthly using the daily balance method. Fees may reduce earnings.
State Savings Bank offers a variety of checking accounts designed to meet your needs:
- NOW Checking - Everyday checking with interest and convenient digital access.
- SSB Select Checking – An enhanced checking account with added benefits and monthly interest.
- Rewards Checking – Earn higher rewards when you meet monthly activity requirements.
Rewards Checking Disclosures
To qualify for rewards each month, you must meet the following requirements within your statement cycle:
- Fifteen or more debit card purchases (ATM transactions excluded)
- Five or more ACH debits, OR five or more bill pay transactions, OR one or more State Savings Bank automatic loan payments
- One or more direct deposits (such as payroll, Social Security, or disability income)
If requirements are not met, the interest rate paid on the entire balance will be 0.00% with an APY of 0.00%.
Interest on checking accounts is compounded and credited monthly, using the daily balance method. Fees may reduce earnings.
Savings Accounts
| Account | Minimum Amount to Open Account | Daily Balance to Obtain APY* | Interest Rate | APY* |
|---|---|---|---|---|
| Classic Savings | $100.00 | 1.05% | 1.05% | |
| Super Savings (Consumer and Commercial) | $2,500.00 | Under $2,500.00 | 1.05% | 1.06% |
| $2,500.00 - $19,999.99 | 1.10% | 1.11% | ||
| $20,000.00 & over | 1.15% | 1.16% | ||
| First-time Homebuyer Savings*** | $100.00 | Up to $20,000.00 | 3.90%*** | 2.12%*** |
| $20,000.01 & over | 0.65%*** | Range from 3.96% to 0.65%*** |
Rates Effective as of December 13, 2025
Rates are subject to change. APY stands for Annual Percentage Yield. APY assumes interest is compounded and rates remain the same for one year. Classic and First-Time Homebuyer Savings compound quarterly, while Super Savings compounds monthly. Interest is calculated using the daily balance method. Fees may reduce earnings.
Our savings options include Classic Savings, Super Savings (for consumers and businesses), and First-Time Homebuyer Savings.
- Classic Savings – Steady savings growth with quarterly compounding.
- Super Savings – Monthly compounding for both consumer and commercial accounts.
- First-Time Homebuyer Savings – Dedicated savings benefits for those preparing to purchase their first home.
Interest on Classic Savings and First-Time Homebuyer Savings accounts is compounded and credited quarterly. Super Savings accounts compound and credit monthly. Interest is calculated using the daily balance method. Fees may reduce earnings.
Certificates of Deposit (CDs)
Deposit accounts are only available to residents of Iowa in Polk, Jasper, and surrounding counties.
| Certificate of Deposit Maturity | Minimum Deposit | Interest Rate | APY* |
|---|---|---|---|
| 6 Month | $2,000 to $9,999.99 | 3.65% | 3.70% |
| $10,000 to $49,999.99 | 3.70% | 3.75% | |
| $50,000 to $245,000 | 3.75% | 3.80% | |
| Over $245,000 | 3.70% | 3.75% | |
| 12 Month | $2,000 to $9,999.99 | 3.90% | 3.96% |
| $10,000 to $49,999.99 | 3.95% | 4.01% | |
| $50,000 to $245,000 | 4.00% | 4.06% | |
| Over $245,000 | 3.95% | 4.01% | |
|
**55 Month Special Flex |
$2,000 to $245,000 | 3.75% | 3.80% |
| Over $245,000 | 3.55% | 3.60% | |
| 24 Month | $2,000 to $9,999.99 | 3.50% | 3.55% |
| $10,000 to $49,999.99 | 3.55% | 3.60% | |
| $50,000 to $245,000 | 3.65% | 3.70% | |
| Over $245,000 | 3.55% | 3.60% | |
| 36 Month | $2,000 to $9,999.99 | 3.30% | 3.34% |
| $10,000 to $49,999.99 | 3.70% | 3.75% | |
| $50,000 to $245,000 | 3.80% | 3.85% | |
| Over $245,000 | 3.70% | 3.75% | |
| 48 Month | $2,000 to $9,999.99 | 3.30% | 3.34% |
| $10,000 to $49,999.99 | 3.40% | 3.44% | |
| $50,000 to $245,000 | 3.50% | 3.55% | |
| Over $245,000 | 3.40% | 3.44% | |
| 60 Month | $2,000 to $9,999.99 | 3.40% | 3.44% |
| $10,000 to $49,999.99 | 3.50% | 3.55% | |
| $50,000 to $245,000 | 3.60% |
3.65% |
|
| Over $245,000 | 3.50% | 3.55% |
Rates Effective as of December 13, 2025
Rates are subject to change. APY stands for Annual Percentage Yield. Substantial penalty for early withdrawal. Interest compounds quarterly. Annual Percentage Yield assumes interest is compounded and rates remain the same for one year.
Lock in a fixed rate for your savings with flexible certificate of deposit options.
- Competitive rates with predictable growth
- Multiple term lengths available
- Interest compounded quarterly
CD Rate Advantage: Once during the term, you may exchange your interest rate for the current 48-month CD rate. The new rate will equal the rate of the applicable tier based on your CD balance.
Explore Additional Services
In addition to deposit accounts, State Savings Bank offers:
- Home mortgage options for purchase or refinance
- First-time homebuyer loans with local guidance
- Commercial loans tailored to Iowa businesses
- Online and mobile banking services for everyday convenience
Get Started Today
Ready to open a checking account, savings account, or certificate of deposit? Our local team in Des Moines and Baxter is here to help you compare rates and choose the right option. Contact State Savings Bank today to learn more and start your application.
